In Mcx Copper futures
swung between small gains and losses on Thursday, as investors looked ahead to
key data out of the U.S. and China to gauge the strength of the world’s two
largest economies. Copper
for September delivery eased up 0.19%, or 0.6 cents, to trade at $3.248 a pound
during European morning hours.
Gold remained supported as tensions between Russia and the West over the situation in Ukraine remained high, while fighting between Israel and Hamas militants in Gaza also remained in focus. The precious metal is often seen as a haven investment in times of geopolitical uncertainty.
The dollar strengthened against most major currencies on Wednesday on news the U.S. economy grew much more in the second quarter than anticipated, though a somewhat dovish take on the labor market from the Federal Reserve watered down the greenback's gains.
Gold remained supported as tensions between Russia and the West over the situation in Ukraine remained high, while fighting between Israel and Hamas militants in Gaza also remained in focus. The precious metal is often seen as a haven investment in times of geopolitical uncertainty.
The dollar strengthened against most major currencies on Wednesday on news the U.S. economy grew much more in the second quarter than anticipated, though a somewhat dovish take on the labor market from the Federal Reserve watered down the greenback's gains.
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